Rane Madras acquires steering components business of Hical Group, Auto News, ET Auto

13
SCB manufactures steering and suspension components such as Inner Ball Joints (IBJ) and Outer Ball Joints (OBJ).
SCB manufactures steering and suspension components such as Inner Ball Joints (IBJ) and Outer Ball Joints (OBJ).

New Delhi: Rane Madras Limited (RML), part of the Rane Group on Wednesday announced that its Board of Directors has approved the acquisition of the Steering Components Business (SCB) of Yagachi Technologies Private Limited (YTPL) which is a part of Hical Group.

Rane (Madras) Limited manufactures steering and suspension products and light metal casting components.

SCB manufactures steering and suspension components such as Inner Ball Joints (IBJ) and Outer Ball Joints (OBJ). The division’s major customers include Mando India which serves OEMs like Hyundai, Kia, Mahindra, etc.

Harish Lakshman, vice chairman, Rane Group, said, “The acquisition of the Steering Components Business of Yagachi will enhance RML’s leadership position and share in the domestic passenger vehicle market and provide an opportunity to enter export vehicle platforms to new geographies.”

SCB’s revenue was INR 35.5 crores for FY21. It has a technical collaboration with a leading South Korean ball joint company, it said.

Established in 1960, RML has two divisions namely Steering and Linkages Division (SLD) and Light Metal Casting India Division (LMCI). SLD manufactures mechanical steering gears, hydrostatic steering systems and steering and suspension linkage products. LMCI manufactures low porosity, high-quality light metal casting such as steering housings and engine case covers.

Through its overseas subsidiary Rane Light Metal Castings Inc. (RLMCA), RML manufactures high pressure light metal casting components from its facility in Kentucky, USA.

Also Read:

MSSL will acquire 55% stake from the promoters of CIM Tools Private Limited (CIM). CIM in turn will hold 83% in Aero Treatment Private Limited (ATPL). It has 49.99% in Lauak CIM Aerospace (JV with Lauak International, LCA). CIM, ATPL and LCA are being referred to as “CIM Group”. MSSL’s entry into the aerospace segment is aligned with its growth strategy to venture into the non-automotive sectors as outlined in its five-year plan, Vision 2025, the company said.

In a statement sent to the Global Times on Sunday, Li Auto said it has ramped up efforts to ensure chip supply to help resolve the current crunch and it is a normal practice to source from regular channels.

Comments